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TMI Blog2019 (8) TMI 657X X X X Extracts X X X X X X X X Extracts X X X X ..... ve remained uncontroverted and approve the same. However, as regards the claim of ₹ 14,87,543/as accumulated savings and agricultural income, ITAT was of the view that since the assessee was having some agricultural income, an amount of ₹ 5,00,000/can at best be treated as explained. Having gone through the materials on record, more particularly, the findings of fact recorded by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5, dated 15/10/2018 for the A.Y 2006-07. 2. The appellant assessee has proposed the following substantial questions of law for the consideration of this Court: - ( i) Whether on the facts and in circumstances of the case as well as on law the Tribunal was right in law in allowing partial relief of ₹ 5,00,000/out of total addition made by AO of ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct of giving loans, and, for that reason these credits should be held to be genuine. As regards the alleged gift of ₹ 4,00,000 and accumulated past savings which are alleged to be ₹ 14,87,543, learned counsel has mainly placed reliance on the contentions before the authorities below and reiterated the same. None of these submissions, however, make much sense. As regards the alleged gif ..... X X X X Extracts X X X X X X X X Extracts X X X X
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